Report: Valley among fastest-growing tech markets in US

Kayakers on Tempe Town Lake, foreground, pass the Hayden Ferry Lakeside business center, which rents office space to several tech companies. Tempe is one of the fastest growing tech submarkets in the U.S., and metro Phoenix is one of the fastest growing tech markets, according to a CBRE report. [Submitted photo]


By Mark Carlisle | YourValley

The metro Phoenix area, led by Tempe, has become one of the fastest-growing tech markets by office space rented in the U.S., according to a report.

CBRE’s 2018 Tech-30 report, which measures the 30 top tech markets in North America, ranks Phoenix as having the country’s sixth largest growth rate over the past two years in tech office net absorption, the rate at which tech companies entered the market against those that left. Tempe, which leads the Phoenix area’s tech industry, ranked fourth in net absorption among tech submarkets.

“Now as we become more urban, I think we’re just appealing to a different type of workforce,” said Maria Laughner, economic development program manager for the city of Tempe. “A worker that’s interested in taking light rail or biking to work, for example. We’re very lucky to have ASU (Arizona State University) in our backyard, so building off of them. The kind of environment that we have here, you just can’t replicate everywhere.”


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February 2019